07 June 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--The European methyl tertiary butyl ether (MTBE) factor against gasoline remained steady this week, signifying healthy levels of demand in the market, participants said on Friday.
“The factor against gasoline was at 1.15-1.16 throughout the week. This suggests there is a good level of demand in the market,” one trader said.
Although MTBE prices had increased by midweek, they edged down again towards the latter part of the week.
Market participants attributed this to lower crude oil values on Wednesday rather than ailing demand.
Sources noted an improved demand from the Mediterranean, which in turn has resulted in tightness of MTBE in the region.
“I soon expect to see better consumption from Italy, which will help to boost prices,” one producer said.
MTBE prices were at $1,103/tonne (€838/tonne) FOB (free on board) AR (Amsterdam-Rotterdam) at the close of business on Friday, up from $1,097-1,100/tonne FOB AR last week.
($1 = €0.76)
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